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Feb 14, 2013
02/13
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>> well, you see the republican party every time the debt ceiling comes up trying to leverage that, making sure the president can't pass anything else, that we don't get past that debate unless they get their way i think the american people want us to get past that. the debt is very important but you can't have the same fight that's disruptive every six months. >> woodruff: congressman collins how do you see that? >> i think what we've got to do is look -- of course we represent everyone. in our districts and everyone in our state but more importantly everyone in our country. what we have to understand is we fight for the principles we ran on, we fight for the principles we believe in this country from an economic standpoint make us great. what we've got to understand here is many times these issues that divide us also can bring us together but it's not going to be one from bringing up the same old thing and to respond to the point of republicans, it's also been a theme of the democratic party as well to go back to taxing certain classes of people and that was another thing expressed the o
>> well, you see the republican party every time the debt ceiling comes up trying to leverage that, making sure the president can't pass anything else, that we don't get past that debate unless they get their way i think the american people want us to get past that. the debt is very important but you can't have the same fight that's disruptive every six months. >> woodruff: congressman collins how do you see that? >> i think what we've got to do is look -- of course we...
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Feb 14, 2013
02/13
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the debt ceiling. he said guys, i have an idea, it's called sequester. $1.2 trillion over 10 years. you know what republicans said in we don't like that you want half the cuts to come from defense. no, we're going to do it. now the president doesn't want it because he's not interested in cutting. >> they both signed on to the agreement. i called it a backup backbone. but i agree with you on this, the cuts are not cuts, they're shaving off the growth of varies programs in the future so nothing is outright cut. in a $3.5 trillion budget, $82 billion is a joke. having said that, it's better than nothing. it's better than just letting this pass by. >> right. you know why it's better? the american people have said that the debt in our debt deficit is their biggest worry. pew research did a study and guess where the deficit and debt was with american people. number one. american people know what's good for the country but the president doesn't seem to. i think the sequester is a great start but i want your -
the debt ceiling. he said guys, i have an idea, it's called sequester. $1.2 trillion over 10 years. you know what republicans said in we don't like that you want half the cuts to come from defense. no, we're going to do it. now the president doesn't want it because he's not interested in cutting. >> they both signed on to the agreement. i called it a backup backbone. but i agree with you on this, the cuts are not cuts, they're shaving off the growth of varies programs in the future so...
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Feb 14, 2013
02/13
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concerned in this country. >> narrator: and cantor had that debt ceiling threat. if the president wouldn't cut spending, he and the new republicans would force the issue. >> we all saw the debt ceiling as the best lever we had to make some changes, to deal with the spending problem, to deal with the big government problem. >> if the government were to fail to raise the debt ceiling, you would see an immediate panic in the market... >> white house showdown with house republicans... >> narrator: at the white house, treasury secretary timothy geithner knew just how serious cantor's threat was. >> geithner says, "we could trigger a depression worse than the 1930s. it will be indelible. it will be... it will last for generations." tim geithner is one scared secretary of the treasury. >> when secretary geithner and the rest of us spoke to the president, we were very clear. a default would be unprecedented in our country. it would absolutely lead to a serious downgrading of our credit rating. >> narrator: geithner said they had only weeks to act before the country ran ou
concerned in this country. >> narrator: and cantor had that debt ceiling threat. if the president wouldn't cut spending, he and the new republicans would force the issue. >> we all saw the debt ceiling as the best lever we had to make some changes, to deal with the spending problem, to deal with the big government problem. >> if the government were to fail to raise the debt ceiling, you would see an immediate panic in the market... >> white house showdown with house...